Thai junta approves 2015 fiscal state budget

BANGKOK, July 16 (TNA) - Thailand's army-led National Council for Peace and Order (NCPO) has approved a 2.575-trillion-baht state budget for the 2015 fiscal year, 50 billion baht higher than the current 2014 fiscal budget. Bureau of the Budget Director Somsak Chotrattanasiri told journalists that state budget for the 2015 fiscal year, which starts on October 1, 2014, was approved by the NCPO on July 15, 17.5 per cent or 450.625 billion baht of which was earmarked for investment projects in the public sector. Somsak revealed that the highest share of the 2015 fiscal budget, or 498.16 billion baht, will go to the Ministry of Education, followed by 372.74 billion baht to the central fund, covering salaries and pensions of government officials, 341.164 billion baht to the Ministry of Interior, 193.065 billion baht to the Ministry of Defence, which is 9.259 billion baht higher the 2014 fiscal, and 186.216 billion baht to the Ministry of Finance. Somsak said Thai Army and NCPO Chief General Prayuth Chan-ocha, who chaired Tuesday's meeting, ordered quick disbursements of the state budget, acknowledging that the 2015 fiscal budget includes about 300 million baht for the improvement of border checkpoints to support the formation of the ASEAN Economic Community (AEC) by 2015 and also covers funds for investing in 11 double-track railways and water management projects. According to the senior official, government revenues in the 2015 fiscal year are estimated at 2.325 trillion baht, resulting in a budget deficit of about 250 billion baht. The senior official noted that the draft 2015 budget bill will then be scrutinized by the Council of State, before being returned to the junta and submitted to the National Legislative Assembly, which will be formed soon. (TNA)